MARKETING: STUDENT NOTES
Section 1: Marketing
What is a market?
A market can be defined as a meeting place for buyers (consumers) andsellers. Markets can be set up in a shop, restaurant, over the telephone/ internet, at a car boot sale, etc.A market consists of the individuals or organisations who are actual orpotential buyers of a product or service. Markets may be classified asconsumer markets or industrial markets.
are made up of individuals who purchase goods orservices for personal or domestic use. They make most of their purchasesfrom retailers and buy a combination of consumable goods, such as food anddurable goods such as cars, televisions, and clothes. Consumable goods arebought more frequently than durable goods.
are made up of organisations that purchase goods orservices to use in the production of other goods and services. They buy acombination of consumable goods, such as raw materials and longer-lastingdurable goods, such as machinery and equipment.
What is marketing?
Marketing Manager Required
Here is your chance to influence the spending habits of a discerningsector of the population and manage a world-famous cosmeticscompany. Reporting to Senior Management, you will develop andimplement a marketing strategy for a range of brands. You will haveresponsibility for
promotion and advertising
preparation of publicity material
Additionalresponsibility will be for
new product development
inorder to expand our market base.
The marketing activities contained in the above job advertisement areitalicised in the text.The Chartered Institute of Marketing defines marketing as ‘the processinvolved in identifying, anticipating and satisfying consumer requirementsprofitably’.